Webster Bank N. A. Decreases Stake in Novartis AG (NVS)

Webster Bank N. A. reduced its stake in Novartis AG (NYSE:NVS) by 12.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,940 shares of the company’s stock after selling 1,025 shares during the period. Webster Bank N. A.’s holdings in Novartis AG were worth $516,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Dodge & Cox acquired a new stake in shares of Novartis AG during the fourth quarter valued at $3,330,137,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Novartis AG during the third quarter valued at $304,776,000. Franklin Resources Inc. boosted its stake in shares of Novartis AG by 16.4% in the fourth quarter. Franklin Resources Inc. now owns 14,753,570 shares of the company’s stock valued at $1,074,650,000 after buying an additional 2,074,452 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of Novartis AG by 3,276.1% in the fourth quarter. Federated Investors Inc. PA now owns 1,907,815 shares of the company’s stock valued at $138,965,000 after buying an additional 1,851,305 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Novartis AG by 12.2% in the first quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock valued at $675,917,000 after buying an additional 988,301 shares during the last quarter. 9.82% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

Novartis AG (NYSE:NVS) opened at 80.42 on Friday. The firm’s 50-day moving average is $76.31 and its 200-day moving average is $73.76. Novartis AG has a 52 week low of $66.93 and a 52 week high of $83.58. The firm has a market cap of $190.24 billion, a price-to-earnings ratio of 30.23 and a beta of 0.73.

Novartis AG (NYSE:NVS) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Novartis AG had a net margin of 13.80% and a return on equity of 15.37%. The company had revenue of $11.54 billion during the quarter, compared to the consensus estimate of $11.59 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts anticipate that Novartis AG will post $4.72 earnings per share for the current year.

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Several equities research analysts have recently weighed in on NVS shares. Vetr raised shares of Novartis AG from a “buy” rating to a “strong-buy” rating and set a $85.99 price target for the company in a research report on Wednesday, March 15th. Argus raised shares of Novartis AG from a “hold” rating to a “buy” rating in a research report on Tuesday, January 31st. Zacks Investment Research raised shares of Novartis AG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 1st. Goldman Sachs Group Inc reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Wednesday, March 22nd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novartis AG in a research report on Thursday, March 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $83.12.

Novartis AG Company Profile

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

12 Month Chart for NYSE:NVS

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